Martinsville-Henry County Chambers Partnership for Economic Growth

Analysis

Martinsville-Henry County Chambers Partnership for Economic Growth is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in January 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Martinsville-Henry County Chambers Partnership for Economic Growth reported income of $431k and spending of $414k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $358k to $431k (+20%), an average of +4.7% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Martinsville-Henry County Chambers Partnership for Economic Growth sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within VA. Charities of a similar size with the same main cause include Technical Training & Safety ($431k), Rise Relief Inc ($431k) and Georgia Association of School Business Officials Inc ($431k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 34% of the total. Other salaries and wages came to $18k. At year end it held assets of $1.0m against liabilities of $70k, net assets of $947k.